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Economy

US current account deficit falls to 14-year low

By Christopher Rugaber
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US current account deficit falls to 14-year low

Big gains in exports and overseas investment income narrowed the U.S. current account deficit to the lowest level in 14 years in the October-December quarter.

The imbalance fell to $81.1 billion in the fourth quarter, down from $96.4 billion in the July-September quarter, the Commerce Department said Wednesday. That’s the smallest gap since the third quarter of 1999.

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